Binance CUSTOMER SERVice Number @! The one service that will get much inner use is Instant Messenger. Several commenters believed that markets must be permitted to depend on third parties,98 and one added that no circumstances should be imposed and third events should not be required to fulfill qualification standards.99 One commenter believed, however, that the Commissions ought to create or designate one official supply for any data used for functions of figuring out market capitalization and dollar worth of ADTV, not just for the top 750 and Top 675, however for all securities registered beneath Section 12.One hundred Upon cautious consideration of the query, the Commissions have decided not to adopt any rules right now that prohibit or place situations on the use of third parties or impose skills requirements on such third parties. 3. Use of the highest 750 and Top 675 Lists As famous above, commenters indicated that it could be difficult to consistently determine the top 750 and Top 675 securities, and endorsed the concept the Commissions publish a listing of the top 750 and Top 675 securities. Any safety that seems on each lists shall be deemed to be one in all the highest 750 and Top 675 securities every day during the period through which those lists are designated as applicable.
Paragraph (b) of the rule was proposed to provide a transition interval for an index that was a narrow-based mostly security index and grew to become broad-based for greater than forty five days over three consecutive calendar months, permitting it to continue to be a slim-primarily based security index for the three following calendar months.135 To attenuate disruption, paragraph (c) of the rule additionally was proposed to offer that a nationwide securities exchange could, following the transition period, continue to commerce only in those months through which the contract had open interest on the date the transition interval ended and shall restrict buying and selling to liquidating positions. Finally, the foundations as adopted provide, as of their proposed version, that if an index that has certified underneath the temporary exclusion subsequently assumes slender-based traits for greater than 45 enterprise days over three consecutive calendar months, it becomes a narrow-based safety index, and thus the future on it turns into a safety future following a further three-month grace period. http://we-painting.com/%EB%B0%94%EC%9D%B4%EB%82%B8%EC%8A%A4%20%EC%9E%85%EA%B8%88%20%EB%B0%8F%20%EC%9D%B4%EC%99%80%20%EA%B4%80%EB%A0%A8%EB%90%9C%20%EB%AA%A8%EB%93%A0%20%EC%84%B8%EB%B6%80%20%EC%82%AC%ED%95%AD of those commenters subsequently advocated the adoption of a rule that will permit the buying and selling of futures on such indexes on futures exchanges a minimum of by ECPs, within the absence of a separately crafted standard for international based mostly safety indexes to qualify as broad-based indexes.129 Otherwise, they argued, the buying and selling of such futures would migrate to an unregulated arena.130 Two commenters observed, alternatively, that trading over-the-counter is harder and considerably more expensive than on an exchange, and cited this truth as an argument to permit trading in such indexes on a futures exchange.131 3. Final Rules The Commissions are adopting Rule 41.13 underneath the CEA and Rule 3a55-3 beneath the Exchange Act132 as proposed.
The opposite commenter expressed the additional concern that beneath the foundations as proposed, an exchange with plans to start buying and selling a future on a broad-primarily based index would don't have any assurance, till the eve of the launch date, that in fact the index had been broad-based for each day during the preceding 6 months.107 This commenter advised that an exclusion as a substitute needs to be granted if the index merely was slender-based no more than forty five days over three months trying retroactively from the launch date. The Commissions imagine that this method of taking a "snapshot" of the current lowest weighted 25% after which looking retroactively to determine the aggregate dollar value of the ADTV over the preceding 6 months of the securities within the snapshot is an inexpensive method for the purposes of the statute and will likely be significantly much less burdensome than the choice of requiring a calculation of the information for the lowest weighted 25% of the index for every day of the preceding 6 full calendar months.87 5. Determining "the Preceding 6 Full Calendar Months" As already noted, the CEA and Exchange Act specify that the greenback worth of ADTV and market capitalization are to be calculated as of the "preceding 6 full calendar months."88 Paragraph (d)(8) of CEA Rule 41.11 and Exchange Act Rule 3a55-1, being adopted at this time as proposed, defines "previous 6 full calendar months," with respect to a selected day, as the time period beginning on the identical day of the month 6 months earlier than such day, and ending on the day previous to such day.89 For instance, for August sixteen of a specific yr, the previous 6 full calendar months means the period beginning February 16 and ending August 15. Similarly, for March 8 of a selected 12 months, the previous 6 full calendar months begins on September eight of the earlier year and ends on March 7. The Commissions believe that this "rolling" 6-month approach is suitable, particularly in gentle of points that will arise if 6 full calendar months were measured from the primary to the final day of each month on the calendar.
The Commissions note that the statute by its own terms requires 30 days of buying and selling as a broad-primarily based index earlier than modifications in an index's characteristics could also be tolerated. https://2819main.com/contents/%eb%b0%94%ec%9d%b4%eb%82%b8%ec%8a%a4-%ec%b6%9c%ea%b8%88-%ed%80%b4%ec%a6%88-%ea%b7%b8-%ea%b8%b0%eb%8a%a5%ec%9d%80-%eb%ac%b4%ec%97%87%ec%9d%b8%ea%b0%80%ec%9a%94/ advised that if the underlying index had been slim-primarily based for at the very least six consecutive months previous to the initial buying and selling of the safety index futures contract, but later became a broad-based index, there should be a presumption that the contract was provided as a slender-primarily based contract in good faith.137 As such, the rule ought to permit a grace period of 9 months, as a substitute of three, for purposes of unwinding the contract, or the rule ought to enable the listing market to seek qualification as a chosen contract market to be able to continue trading the contract. In such case the index would proceed to be handled for an interim grace interval of three months as a narrow-based contract. The final rules exclude from the definition of slender-based security index an index that satisfies one among three alternative necessities. The rule offering for the designation of lists can be intended to handle another concern raised by the Commissions within the Proposing Release and remarked on by a number of commenters: How typically must the highest 750 and Top 675 securities be identified to be able to verify that component securities of an index still could be included on such lists?